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S13 <br />City of Cuyahoga Falls, Ohio 37 <br />gg o gg Analysis of Impediments to Fair Housing Choice <br />Figure 1: Prime & Sub Prime Mortgage Activity <br />2002 <br />4000 <br />3500 <br />3000 <br />2500 <br />2000 <br />1500 <br />1000 <br />500 <br />Applications Originated Denied Withdrawn Approved Not Accept <br />® Prime Q Sub Prime <br />7.3 General Lending in Cuyahoga Falls <br />In Cuyahoga Falls in 2002 there were 240 lenders accepting one or more applications for <br />mortgage loans and there was a total of 5,373 applications. Of the 240 lenders thirteen <br />had 2% or more of the market for a total market share of 43.8°/x. That means that the <br />remaining 227 lenders had a total market share of 56.2%. Of the 36 largest lenders in <br />Cuyahoga Falls thirteen had 72.7% of the total mortgage market. Five of the thirteen <br />largest lenders were sub prime, the two largest lenders Countrywide Home Loans (6.6 %) <br />and ABN AMRO Mortgage Group (6.1 %) were sub prime. Table 25 shows the thirty six <br />largest lenders and their market share for the City. <br />The physical presence of financial institutions in communities facilitates relationships with <br />banks. There are eleven (11) depository institutions in the City of Cuyahoga Falls, nine <br />affiliated with large national institutions and two locally owned and operated. Location of <br />lenders is the primary concern for a community. Areas that are left without branches or <br />only access to ATM machines must find alternative sources for services (check cashing <br />business, finance companies), which can be more expense than traditional financial <br />institutions or credit unions. Table 26 lists the depository banks in the City, their 2002 <br />market share for mortgage applications and numberof applications (all types and purpose), <br />